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M. L. Wilson lecturer describes increases in Farm Bill spending
November 19, 2002
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| With a caricature of Economist M.L. Wilson behind him, the USDA's deputy chief economist Joseph Glauber begins the 2002 M.L. Wilson Lecture at MSU. |
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Even though the farm bill of 2002 adds over $80 billion to baseline spending over the next decade, overall it provides support levels similar to that paid out in the last four years, a USDA economist told those gathered for the M.L. Wilson Lecture at Montana State University Friday night.
Joseph Glauber, the USDA's deputy chief economist, said the perceived increases might lay the United States open to a challenge under World Trade Organization agreements. He termed that potential "small but significant."
Commodity programs will receive $56.7 billion in new spending and conservation programs $14 billion under the 2002 farm legislation, formally known as the Farm Security and Rural Investment Act, Glauber told the audience gathered at MSU's Museum of the Rockies in Bozeman as part of MSU Agricultural Appreciation Days.
The new act may face U.S. as well as world challenges, said Glauber. "With budget deficits in the near future, larger than expected outlays may cause the farm bill to be revisited before 2006," he said.
Glauber said the changes in the Farm Bill probably will only have a minimal effect on production decisions, but it increases reliance on the government compared to the 1996 farm bill.
An important issue for commodity and farm organizations is that the budget for the dairy program has already been exceeded. This has raised concerns among the public and in Congress about the accuracy of budget estimates.
Glauber said his assessment of the farm bill's budgeted costs are based on the best estimates available, but are "only as good as the week in which they are done."
Glauber has served as Deputy Chief Economist at the U.S. Department of Agriculture since 1992. He served as economic advisor for the Blair House agreements leading to the completion of the Uruguay Round negotiations. He is the author of numerous studies on crop insurance, disaster policy and U.S. farm policy. Prior to his current position, he was senior staff economist for agriculture, natural resources and trade for the President's Council of Economic Advisors from 1991 to 1992 and from 1984 to 1991 he also served as economist at the Economic Research Service, USDA.
Jim Johnson (406) 994-5606, Gary Brester (406) 994-7883
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| [View or Download] | 1. | With a caricature of Economist M.L. Wilson behind him, the USDA's deputy chief economist Joseph Glauber begins the 2002 M.L. Wilson Lecture at MSU. |
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